I haven't posted on ECT for a long while, but I remain a constant lurker on this forum. I have been a bit disappointed by the level of discussion in recent times, so I have now also adopted the tip given a week or so ago of only reading posts with 10 or so thumbs up to filter some of the senseless invective.
Like everyone I was disappointed by the actions of one of our two large Indian partners. I got in over ten years ago in a very small way and subsequently invested what was a big 5 figure sum for me, after ALDP at 0.002. I did so on the basis that this is a speculative investment and as such requires a high degree of conjecture. Effectively I was betting that I can see something that the market as a whole hasn't recognised or cottoned onto. With speculative investment my own rule is that I need to be able to lose the lot without any detrimental impact on lifestyle. With that box ticked it is then ok to invest in a spec stock for potentially far higher long term returns.
At one stage I was up by a healthy six figure sum. I didn't sell just accumulated more in the dips. I took the higher compounding interest option offered by ECT Finance on conversion of my "tails" and I have not taken up any of the interest discount offers since. So there you have it..... now it's time for a major reassessment as regards this penny stock vis a viv my portfolio .....and I'm happy to share my thoughts with any here who are interested. As a starting point I thought I'd repost from 17 June 2015 when ESI was 2.3 cents to rub salt in my own wounds:
Greetings fellow ESIers,
I have been following the threads since about 2008 and have had my toe in the water for most of that time. Steady accumulation post ALDP has resulted on a (paper) healthy six figure profit to date. I have placed partial sell orders a couple of times only to pull them. My original idea was to be able to hold the bulk of my ESIs, ESIOAs and ESIOBs absolutely free (as someone else here suggested recently to a poster who was asking for advice. BTW I agree it is inappropriate to ask for advice on a forum such as this).The reason I pulled the sell orders was, I like to think, not related to greed, but rather related to the possibility of being involved to the maximum extent possible in such exciting game changing technology. I believe ECT/ESI can potentially have a dramatic impact on the quality of life of millions of people, particularly in the developing world. I have previously posted my thanks to the small band of enthusiast posters who gave me heart and prompted me to invest thousands post ALDP when the share price reached rock bottom......So to my question:If I as a non techo person can read, digest and see the amazing potential and likely massive good news story, why haven't all those well paid scribes in the financial press done the same? Why haven't we seen even one mainstream investment story regarding what has been recorded here on Hotcopper since the last AGM? Why isn't someone with editorial control seeking to build their reputation on being the first to run the ESI/ECT story in a big way before news of "the first big deal" being done breaks?I'm not complaining BTW just wondering out loud with new friends I'm looking forward to having a drink with at the Melbourne 10 cent SP party!As always DYOR.GLTA
Kind regards,
What follows now are a few thoughts to help with the reassessment process:
1) The recalcitrant Indian partner has been pilloried in a recent review of its entrepreneurial activity. As another poster has noted they have dragged the chain and caused a loss of value in other ventures with other smaller partners. Might not their reluctance to proceed now simply be an over reaction to that review? I believe the opportunity in India still exists, though obviously timelines have to be reset;
2) We are a lot further advanced on all fronts than we were in mid 2015. Notionally then Is there any reason why this doesn't intrinsically equate to a more valuable company?
3) Some would say our Directors (because they haven't been able to close a deal) are a liability. I have attended several AGMs in the past and my assessment is that collectively they are sharp, hardworking and focussed on achieving goals, that if successful will lead to a significant growth of shareholder wealth;
4) The Latrobe Valley is crying out for this technology and the time is right for such a project;
5) No one has jumped ship. The executive team and Board (not to mention Lloyd T) clearly still believe and are working on the maxim "that Rome wasn't built in a day." I find it reassuring that they haven't lightened their holdings. IMHO our share registry will be much better off without people with daytrader mentalities.
So there you have it, my rose coloured glasses remain in place, I am a card carrying true believer and I am looking for an increase in SP before the finance deal reaches maturity.
GLTA & DYOR
Kind regards,
(20min delay)